- Herc Holdings Inc (NYSE:HRI) reported second-quarter FY22 sales growth of 30.5% year-on-year, to $640.40 million, beating the consensus of $630.14 million.
- Equipment rental revenue increased 35.1% Y/Y to $605.4 million.
- Selling, general and administrative expenses rose 31.1% Y/Y to $97.0 million.
- Pricing increased 5.5% compared to 2021.
- Adjusted EBITDA rose 36.8% Y/Y to $284.2 million, and the adjusted EBITDA margin increased 210 basis points Y/Y to 44.4%.
- Cash and equivalents totaled $52.1 million as of June 30, 2022.
- Adjusted EPS of $2.47 missed the analyst consensus of $2.64.
- Buyback: HRI revealed its plan to repurchase shares under the 2014 Share Repurchase Program, under which $395.9 million remained available as of June 30, 2022.
- Outlook: Herc narrowed its FY22 adjusted EBITDA outlook to $1.195 billion – $1.245 billion (prior view $1.175 billion – $1.245 billion).
- Price Action: HRI shares are trading lower by 0.89% at $101.40 on the last check Thursday.
Hacker Group Anonymous Sudan Targets X To Force Elon Musk’s Hand On Starlink
A hacker group known as Anonymous Sudan has reportedly set its sights on Elon Musk‘s X, formerly Twitter, to pressurize the tech billionaire into introducing his Starlink satellite internet service to the war-torn nation.
